The usage of influence diagram for decision making in textiles

Abstract

Naturally, managers are frequently faced with decision making processes. The optimal solution of the decision making process rises to the for which in itself depends on the number of decision alternatives and state of the worlds which in themselves may affect the decision alternatives. The scenarios or possibilities faced in decision problem are interlaced to a graphical technique commonly refered to as decision tree to which managers confer to be guided. In this study, the influence diagram, which is similar to a decision tree but also provides room for the decision maker to include extra information about the relationships between variables, is reviewed. An example decision problem is used to show the usage of the influence diagram within the context of Textiles industry.